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JB HI-FI LIMITED M&A Activity 2016

May 18, 2016

65157_rns_2016-05-18_84fd70ce-0db1-4d13-8f62-a97fd286e564.pdf

M&A Activity

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JB HI-FI LIMITED LEVEL 4, OFFICE TOWER 2 1341 DANDENONG ROAD CHADSTONE VIC 3148 ABN: 80 093 220 136 www.jbhifi.com.au

COMPANY ANNOUNCEMENT

19 May 2016

SPECULATION REGARDING JB HI-FI AND THE GOOD GUYS

JB Hi-Fi Limited (“JB Hi-Fi”) notes speculation in the press today that JB Hi-Fi may be considering an acquisition of The Good Guys.

JB Hi-Fi confirms that it is in preliminary discussions with The Good Guys in relation to a proposed sale of The Good Guys. At this stage, discussions between JB Hi-Fi and The Good Guys are preliminary and exploratory in nature. JB Hi-Fi has made no decision and nor has it entered into any agreement with respect to the acquisition of The Good Guys. JB Hi-Fi understands that The Good Guys are looking at a range of options including an IPO on the ASX.

JB Hi-Fi evaluates all possible opportunities against a range of factors and would only pursue an acquisition if it made compelling financial sense for our shareholders.

JB Hi-Fi is aware of its continuous disclosure obligations under the ASX Listing Rules and will ensure it is in full compliance at all times.

Richard Murray Chief Executive Officer 03 8530 7303